Wednesday, 4 February 2015

Lending for agriculture is a business opportunity

Lending for agriculture, which is a priority sector, should not be seen merely as a social obligation but as a business opportunity, said regional director of the Reserve Bank of India J Sadakkadulla here on Tuesday.

Sadakkadulla was speaking at a state level credit seminar organized by NABARD (National Bank for Agriculture and Rural Development).

The state focus paper of NABARD has envisaged a credit potential for 2015-16 at Rs 1.44 lakh crore.
"The credit projection for 2015-16 marks an increase of 15.96% over the credit projection of Rs 1.24 lakh crore for the current year," NABARD said. 
In order to achieve a 4% growth in agriculture as envisaged in the XII Five year plan, as also increasing productivity, capital formation is imperative.

"Capital formation would benefit majority of small and marginal farmers engaged in agriculture through increased income," NABARD said.
NABARD has also prepared model area development schemes for pomegranate, floriculture and sericulture, and the same has been circulated amongst bankers.

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